I don't have enough details to know whether it's a good move for you, but I think my numbers work out better when I'm the lead.

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

At some point that market becomes saturated, pushing revenues down and the extra juice won't be worth the squeeze. 

Typically this means they will take longer to close, may not have all the information for the companies they work with, and most hard money brokers get their money by taking an existing product and adding extra points to pay their fee.What is your investor success rate?

Let’s say with your plan they make an extra $100 or $200 in fees and you lose $1000 or $2,000 in bookings.

Have you obtained any detailed cost/benefit analysis quote?

Keep detailed records of repairs, improvements, and rental income, and consider working with a CPA specializing in real estate to ensure you're taking full advantage of deductions and strategies like passive losses, home office deductions, or even the Qualified Business Income deduction if applicable.Good luck!

Sit down with a 1032 Accommodator and have them explain the details of a 1031.   

I borrowed more money and built a new detail shop; no more crummy landlord!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!